Cambridgeshire-based Knowles Transport has announced that it has acquired a 100 per cent shareholding in fellow 3PL warehousing and distribution provider Masters Logistical with the help of Harbourside Corporate Finance.
Based in Ely, Masters offers warehousing and distribution services across Cambridgeshire and East Anglia and is a member of the Palletline freight distribution network.
South West-based advisers Harbourside helped during the transaction by providing a range of transaction advisory and due diligence services to Knowles Transport to help them close the deal.
The acquisition of Masters comes at a period of significant growth for Knowles Transport. It has gone from strength to strength in recent years, following a period of substantial and continuous investment into the future of the business.
Founded in 1932, and now in its third generation of family leadership, Knowles Transport has established itself as a high-performing third-party logistics specialist within the UK contract logistics industry, primarily serving the ambient food, drink and packaging sectors.
With a fleet of 325 vehicles and trailers, a total of two million square feet of warehousing space across two sites and a headcount of 380, Knowles’ fleet will be further bolstered by Masters Logistical’s 42 vehicles and trailers, 85,000 square feet of warehousing space and 30 members of staff – with further plans for expansion.
Commenting on the acquisition, Olly Pullin, a Director at Harbourside, said: “We were delighted to work with Knowles Transport and their wider transaction advisory team. I am happy to have helped in completing this acquisition which cement Knowles Transport’s reputation within the industry and hopefully forms a cornerstone for its continued growth.